Common use of Fee Escalation Clause in Contracts

Fee Escalation. Beginning January 1, 2001, (by calendar quarter) the fractionation fee will be based on the following escalation calculation applied by calendar quarter and calculated in accordance with the actual delivered fuel cost for the previous calendar quarter. At no time during the term, of this Agreement will the fractionation fee be less than ***** per barrel on the first ***** barrels per day fractionated hereunder and ***** per barrel for fractionated volumes greater than ***** barrels per day. Additionally, the fractionation fee will never be greater than ***** per barrel.